Gold rate declines as traders book profits

Globally, gold prices fell on Friday after a sharp rise in the previous session as the dollar regained lost ground, although doubts over a swift global economic recovery kept bullion on track for a weekly gain.

Gold futures on MCX were down 0.85 per cent or Rs 439 at Rs 51,335 per 10 grams. Silver futures dipped 1.45 per cent or Rs 999 to Rs 67,992 per kg.
NEW DELHI: Gold and silver prices slipped in Friday’s trade as profit booking ensued after the ECB outlined its monetary policy while Repubpican attempt to pass an aid bill was stalled in the US Senate.

Investors now await British GDP data and US inflation numbers due later in the day for further clarity on the progress of the global recovery from a coronavirus-induced economic slump.

Gold futures on MCX were down 0.85 per cent or Rs 439 at Rs 51,335 per 10 grams. Silver futures dipped 1.45 per cent or Rs 999 to Rs 67,992 per kg.


Gold prices rose by Rs 287 to Rs 52,391 per 10 gram in the national capital on Thursday, according to HDFC Securities. Silver prices also gained Rs 875 to Rs 69,950 per kilogram.

Gold Rates - Spot & Futures (.995 purity) (MCX)

DateGold Spot Price
Rs/10 grms (AHMEDABAD)
Gold Future Price
Rs/10 grms Expiry: 04-Dec-2020
30-10-202050699.050699.0
23-10-20200.050858.0
22-10-202051128.050790.0
20-10-202050766.050840.0
19-10-202050809.050660.0
16-10-202050796.050549.0
13-10-20200.050260.0
09-10-202050695.050855.0
08-10-20200.050200.0
01-10-20200.050570.0


Globally, gold prices fell on Friday after a sharp rise in the previous session as the dollar regained lost ground, although doubts over a swift global economic recovery kept bullion on track for a weekly gain.
ADVERTISEMENT

Spot gold was down 0.3 per cent at $1,947.41 per ounce by 0058 GMT, after hitting its best level since Sept. 2 at $1,965.94 on Thursday. Gold has gained 0.8 per cent so far this week. US gold futures fell 0.5 per cent to $1,955.30.

The dollar index held firm against its rivals, recovering from a drop against the euro in the previous session. A stronger greenback makes gold more expensive for holders of other currencies.

Silver fell 0.3 per cent to $26.84 per ounce, platinum eased 0.1 per cent to $925.59 and palladium lost 0.4 per cent to $2,283.72.
ADVERTISEMENT
READ MORE

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

Related Companies

More from our Partners

Loading next story
Text Size:AAA
Success
This article has been saved

*

+